How to be Ready for the Business Risks You Will Meet

by Tyler G. Hicks

On a business flight from Europe, we had dinner in the upper cabin of a big 747 jet. During the meal the conversation turned to risks in business and how the risks can be reduced. Most of the people there — both men and women — agreed that you cannot take every risk out of business.

Or, put in other terms: people who go into business usually must take risks.

This got me to thinking about you, my readers.

How much — if any — business risk should you, as a BWB take?

We can start by saying: you should not take risks to the extent that you lose your home, etc.

Nor should you take risks that may put you into debt for years and years unless you have the income to pay off your debts!

To figure business risks, ask yourself: will I be any worse off if I go into this deal which I’m considering, if it doesn’t work?

If the answer is that you will be worse off (that is, you may lose your home, car, etc.), then be very cautious. (Of course, you should always be cautious of every business deal).

But if the answer is that you won’t be much worse off if the deal falls through, then most BWBs will probably be safe in going ahead.

What I’m saying here is that you’ll never move ahead unless you act!

But you should not act without thought, caution, good advice, and careful analysis.

But you must act if you want to build your wealth sooner, faster, easier, more solidly!

Action is the main key!

ACT NOW and ADD TO YOUR CART . . .

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Reducing risk for you is one reason I’m so enthusiastic about paper businesses.

A paper business will, in general, require very little risk on your part in terms of the money you must put up, the time you invest, office space needed, etc.

Once you make it big in a paper business, you can decide if you want to take greater risks in another business which promises higher profits or more growth.

But, at the start, most BWBs will do better if they keep their risks as low as possible while they take action to build their wealth.

As I’ve often told readers during a lunch in New York, if they act after reading one of my books or columns, I feel that my mission in life with respect to that reader has been completed.

Of course, I can still help them with opinions, information, etc. But what I want you to do is act for yourself in a business way, so that you go from just dreaming or hoping to doing. Because once you start doing, acting, working, I’m fairly certain you’ll hit the big money in a business of your choice!

Did you know that the export market (another paper business) often offers a doubling of the life of a product?

Here’s what many firms find.

Let’s say they introduced a new gadget in the U.S. market seven years ago. They saturate the market with the product (by that they mean that most of the people who might want the gadget have bought it). So sales fall off. But the export market (outside the U.S.) may never have seen the gadget. Once the export market does, the demand for the gadget can zoom all over again.

You could form a profitable business by finding products which are on a downhill side of the sales curve, as we used to say in engineering, and giving them new life overseas.

You could run such a business either on a consulting basis — telling firms where and how they might export the product, and charging a fee for your service.

Or you might export the gadget yourself.

Either way, you could have a nice, profitable business.

And one firm might tell another about you, leading to more business and more profits for you.

Think about it! Don’t miss the boat sitting around waiting for your ship to come in.

Act, act, act, act—now!